Paris is one of the most visited cities in the world and it’s famed for its opulent hotels in top locations. But growing competition in the luxury hotel market means that Paris hoteliers have had to stay one step ahead of the game.

Sales of famous Paris hotels continue apace. InterContinental Hotels Group (IHG) has recently agreed to sell the Le Grand hotel to the Qatari group Constellation Hotels Holding Limited for €330 million. The hotel currently has 470 guest rooms, including 70 suites. Constellation plans to renovate Le Grand at an estimated cost of €60 million.